Marked Yellow lines are crucial Support Levels for the Bank Nifty. If Nifty Close above the yellow line, then First target would be around 28600+ If close below the yellow line then the first target is 28067 and close below that will leads to 27700. Kindly avoid buying/selling on consolidated area (Yellow line) Disclaimer: For Education purpose only
Probably Playing S&R, Also 100 SMA is in helping to give a clear trend picture. Falling would be a most likely condition as compared to Nifty 50 but don't ignore the support just below. What do you think ??
All details on chart - Corrective wave C in progress now.
is it right time to sell bank nifty ? share your opinion in comment sbelow
As per my understanding bank nifty will show downtrend if not able to sustain above 27720...My overall view is negative in case if it can sustain above 27680 to 27660 next week on closing basis we may see 28000++
BnF looks like it just broke the support of the small channel that was made between 27120 and 27180. See the first two candles and decide whether to go long or short. The Risk-Reward in short is much better than long side. So, i go for Short. If it breaks 27090, on the 10 min candle, gap filling followed by fresh shorts (In the volatile market that we have, with...
HDFC bank is forming a head and shoulder and is expected to follow the price movement mentioned on the chart. Trade Safe! Make money! . . . . . . . . . . . . . Kindly consult your financial advisor before taking any positions.
Buy BANKNIFTY above 25780 T1: 25900 T2: 26000 T3: 26150 SL: 25690
Punjab National Bank long setup on weekly chart Buy above: 155 SL: 135 Target1: 180 Target2: 200 Target3: 225
Long trend line on Union Bank at 1hr time frame. There is a range in between the buy level and target 1 - 153.15 and the price may hold on the level 153.15 for some times. Once the range also get broken then it will touch the target 2 - 155.35 Trade: Buy above - 150.50 Target 1 - 153.15 Target 2 - 155.35 Stop Loss - 148.50
Points to be noted from the above chart - one may notice that Whenever Bank Nifty has broken its 5 day EMA it has invariably tested its 20 days EMA. - Moreover the chart also reflects that the index has touched its 1.618 Fibonacci extension level which is an important level to watch out for. - Given the chart set up, if Bank Nifty respects the 1.618 extension...